Essex Shells Out $14.3M for Complex

CARLSBAD, CA-A fund managed by Essex Property Trust Inc. has shelled out $14.3 million for a luxury apartment community located in Carlsbad.

Known as the Villas at Carlsbad, the property stands at 2600 Kremeyer Circle and is comprised of 16 buildings that house a total of 102 units, ranging in size from 356 sf to 1,119 sf. Floor plans vary, as the unit mix consists of 12 studios; 36 one-bedroom, one-bath apartments; four two-bedroom, two-bath units; 44 two-bedroom, two-bath apartments and six three-bedroom, two-bath units. Built in an Adobe Southwest architectural style, the luxury complex features a resort-style swimming pool and spa, as well as a clubhouse facility that includes a business center, fitness center, audio/video room, leasing office and sun decks.